Search results: MAS

The ‘virtual land’ sale that broke Ethereum was also a fiasco for buyers. Should Yuga Labs have seen it coming and taken preventative action?

Top blockchain and crypto news: UST knocked out of Luna orbit. Making NFTs Instagrammable. China’s black market ‘digital collectibles’ trade.

China’s central bank is driving the adoption of the digital currency, but a spate of lockdowns is slowing the economy and raising questions about the rollout.

Singapore-based private market exchange ADDX has partnered with Temasek subsidiary Fullerton Fund Management to list Fullerton’s private equity fund of funds (FOF) on its digital platform, ADDX said in a statement.  See related article: Digital securities exchange ADDX join Investcorp to offer tokenized US real estate fund Fast facts The Fullerton Optimized Alpha Fund is […]

A probable run on terraUSD (UST) has weighed on the ability of the company and the non-profit behind the pioneering stablecoin project to defend its dollar peg.

The Monetary Authority of Singapore granted the crypto exchange a Major Payment Institution license, allowing it to provide Digital Payment Token (DPT) services under the Payment Services Act, the company said.  See related article: Singapore wants to bring some adult supervision to crypto Fast facts In Singapore, cryptocurrency exchanges are required to be licensed and […]

Despite Beijing’s rhetoric against speculation in non-fungible tokens, some in mainland China are trading on WeChat groups, spawning an industry that caters to the fervor over the asset class.

Instagram, the social media platform owned by Meta, plans to support non-fungible tokens (NFTs) for crypto art from several blockchain networks, with the pilot project happening as soon as Monday, CoinDesk reports.  See related article: Bored Apes Instagram hack nets millions in stolen NFTs Fast facts Instagram will allow users to post and share NFTs […]

As decentralized finance redefines the way money moves, a do-or-die moment is approaching for traditional finance sector businesses, says Anthony Scaramucci.

Hong Kong’s K11 retail and art complex is host to three events to showcase the new, wild and expensive world of non-fungible tokens as (debatable) art.

Pantera Capital, a U.S. hedge fund specialized in cryptocurrency investment, has closed about 10 deals in India, including one with crypto unicorn CoinDCX, Paul Veradittakit, a partner at Pantera, told The Economic Times. See related article: Temasek leads $200M funding round in crypto firm Amber Fast facts “We plan on doing a lot more (investments) […]

KoinBasket, a cryptocurrency investment start-up, has raised US$2 million in an early-stage funding round with the participation of leading global crypto veterans, the company said in a statement. See related article: India’s crypto shakedown be damned, CoinDCX raises $135 million Fast facts The Singapore-based company will use the funds for product and geographical growth, technology […]

Blockchain can save time, money and reams of paperwork, writes Tim Bailey of Red Date Technology. But its future in global trade remains uncertain.

Kazakhstan is mandating that cryptocurrency miners file regular status reports in a new ministerial order, as the Central Asian nation attempts to gain a stronger grip on the sector. See related article: Ex-Kazakh president’s brother busted for illegal crypto mining Fast facts Crypto miners must submit information including locations of mining facilities, IP addresses, power […]

Top blockchain and crypto news: Otherdeeds debacle stings with gas fee spike. Algorand scores World Cup deal. Will China be forced to embrace Bitcoin?

Except for a bout of recession in March 2020, Bitcoin has been fairly resilient to the vagaries of global financial crisis. But with murmurs of another recession gaining steam, Forkast examines the cryptocurrency’s relevance as a safe haven.

Anthony Scaramucci, founder of investment firm SkyBridge Capital and former White House communications director, says governments such as those in China and the US will inevitably allow for people to own and trade cryptocurrencies.

There’s never a dull moment in the news business. Now, as media outlets explore blockchain, the Associated Press’s Dwayne Desaulniers says more change is coming.

The city-state wants to position itself as a hub for cryptocurrency service providers while holding onto its reputation as an important cog in the global AML, ATF compliance machinery.

More state departments in China are embracing NFTs, with tax bureaus in Shanghai and Chengdu releasing tokens based on Tencent’s blockchain. See related article: ‘Voice of April’ NFTs highlight Shanghai’s struggles amid harsh lockdown Fast facts Shanghai will drop 2,000 NFTs themed on its tax office mascot on Friday. Chengdu’s tax office dropped 1,000 NFTs […]

The Monetary Authority of Singapore (MAS) has granted in-principle approval to fintech firm Revolut to offer digital payment token (DPT) services under the Payment Services Act, according to media reports. See related article: Caught between a rock and a hard place, Singapore tightens crypto oversight Fast facts Revolut Technologies Singapore Pte. Ltd. (RTS) is already […]

Elon Musk’s Twitter takeover isn’t really about free speech, writes Ben Armstrong, aka BitBoy Crypto. It’s an attempt to push you out of Bitcoin and sell your data.

As many as 600 NFTs featuring a montage of audio calls and complaints made by Shanghai residents as they interacted with medical staff and neighborhood compound managers have appeared on OpenSea.

Axie Infinity is a blockchain-based game that rewards players with cryptocurrencies and NFTs. Learn all about how Axie Infinity is creating a play-to-earn revolution in this Forkast explainer.

CoinDCX cofounder Sumit Gupta tells Forkast in an exclusive interview the crypto exchange that recently raised US$135 million will look to triple its headcount by the end of the year.

Binance, the world’s largest cryptocurrency exchange by trading volume, denied sharing client data with Russian authorities, following a Reuters investigation into the exchange’s ties with the country.

Preparing to show off the capabilities of the digital yuan at the Asia Games is a priority from April to August, despite high possibilities of a delay in the event itself. See related article: Asian Games set for digital yuan, metaverse pilots, tech firm claims Fast facts China wants to showcase the digital yuan at […]

Joe Biden’s executive order on crypto has put America on course for solid success in the digital asset space, says the Blockchain Association’s Kristin Smith.

Under Chinese copyright law, the court ruled a marketplace’s failure to ensure the uniqueness of an NFT constituted aiding infringement.

Coinbase’s non-fungible token (NFT) platform launched its beta version for select customers on Wednesday. See related article: Coinbase and Binance move to diversify; Stablecoins under scrutiny Fast facts Only a few customers of the three million on the waitlist can access the beta market, but it is also open for public view. The beta platform […]

A desire to stay in line with global anti-money laundering and anti-terrorism norms is forcing the city state’s hand when it comes to regulating cryptocurrency exchanges.

The Dogecoin community hoping for a price rally was disappointed on “Doge Day” as ApeCoin stole the spotlight with a 30% climb. See related article: Will the dog have its day on Doge Day? Fast facts DOGE investors were hoping to recreate last year’s success when DOGE rallied over 500% in the days leading to […]

Top blockchain and crypto news: Crisis response brings crypto relief. North Korea’s Lazarus Group named in Ronin hack. NFTs face new risks in China.

Holders of the world’s leading memecoin are hoping for a repeat of 2021 where a community effort helped propel the token’s price into the stratosphere. But one industry watcher says the market is a very different place now.

Australia’s mass retail appetite for cryptocurrency is about to be tested as two Bitcoin and one Ethereum spot exchange-traded funds (ETFs) have been approved for listing. See related article: New Australian ETF grants exposure to Bitcoin mining sector Fast facts All three ETFs are set to go live on Cboe (formally Chi-X) Exchange on April […]

NFT technology became famous for $69 million digital art, but what will change the world are its myriad practical uses, writes Jan Hartmann of Banxa Labs.

Xiamen, a major city in China’s southeastern province Fujian, Friday issued China’s first batch of digital commemorative subway tickets based on Alibaba’s blockchain, AntChain. See related article: More courts in China accept blockchain-stored evidence Fast facts The digital ticket bears a likeness to a decorative metal badge,  and is themed with a combination of Xiamen […]

Bitcoin miners saw a 1.26% drop in mining difficulty on Thursday, the third time this year, while the price fell to less than US$40,000. See related article: Cryptos slump over inflation, Shanghai lockdown and war concerns Fast facts The mining difficulty level is now at 28.23 trillion at block height 731,808, after it saw an […]

In Part 1 of a special Forkast series, crypto newcomer Joel Stein dips a toe into Bitcoin and Doge by opening his first-ever crypto wallet.

The metaverse promises to radically change how we work, play and do business. How do we avoid its real-world security risks and pitfalls?

Huawei’s cloud computing arm Tuesday airdropped the brand’s first batch of non-fungible tokens (NFTs), making it the latest Chinese tech giant to join the trend. See related article: China’s Xpeng joins the bandwagon in selling NFTs on Alibaba Fast facts See related article: China’s Communist Party wants to regulate NFTs

Trading volumes at India’s major cryptocurrency exchanges slumped to their lowest in years after new taxes kicked in on April 1, according to research by Crebaco. See related article: Coinbase’s India launch hits road bump Fast facts U.S. dollar trading volume dropped by 72% on WazirX, 59% on ZebPay, 52% on CoinDCX and 41% on […]

Providing access to global customers and higher income, NFTs are changing lives in some of the poorest places in the world, writes Katherine Ng.

Crypto market downturns can dredge up bad memories of ICOs. What lessons can investors learn from the past — and how is Bitcoin different?

Authorities in Hong Kong moving to block retail investors from accessing non-derivative crypto products could undermine the presence of Bitcoin ATMs in the city with the most crypto ATMs in Asia.

Jack Mallers announced at Bitcoin 2022 Strike’s integration with Shopify to enable merchants to accept Bitcoin payments through the Lightning Network. See related article: Twitter chief says integration of BTC Lightning Network “a matter of time” Fast facts Mallers also revealed the Bitcoin payments platform bagged partnerships with NCR, one of the world’s largest point-of-sale […]

The governing body overseeing India’s Unified Payments Interface (UPI) said it isn’t aware of any cryptocurrency exchange using the platform, hours after Coinbase said users could use the same to buy and trade cryptocurrencies.  See related article: SEC threatens to sue Coinbase over high-yield savings account Fast facts Nasdaq-listed Coinbase launched crypto trading services in […]

The metaverse is envisioned as the next iteration of the internet, introducing an immersive digital universe. Find out what this means for the future of our online lives — beyond all the marketing hype — in this Forkast.News explainer.

Singapore on Tuesday passed a law requiring virtual asset service providers to be licensed if they do business overseas, according to Bloomberg.  See related article: How Singapore is reimagining its ‘Asian crypto hub’ image Fast facts The new legislation is an attempt by The Monetary Authority of Singapore (MAS) to ensure that it has adequate […]

Bitcoin is now a reserve asset for Terra’s UST. What does this portend for the $186 billion stablecoins market?

Singapore’s approach may seem increasingly anti-crypto to some, but not to those tracking its policies closely. Danny Chong of Tranchess explains what’s going on.

Singapore’s largest lender won’t expand cryptocurrency trading on its exchange to retail investors any time soon due to “regulatory restrictions” in the island state. See related article: How Singapore is reimagining its ‘Asian crypto hub’ image Fast facts CEO Piyush Gupta said that regulatory agencies are “rightfully concerned” about holding back cryptocurrency trading for retail […]

As the world’s biggest cryptocurrency exchange battles the onslaught of regulators globally, cofounder Yi He is stepping out of the shadows to help steer the company.

The emancipatory promise of decentralization has been both evangelized and excoriated. The Algorand Foundation’s Jason Lee explains why we should be believers.

WeChat has blocked more than a dozen accounts belonging to non-fungible token (NFT) marketplaces from its social media platform, citing prevention of “crypto speculation.” See related article: China state-backed paper’s NFTs surge in price on second-hand market Fast facts When visited, the banned accounts of the NFT marketplaces displayed a message from WeChat: “No legal […]

USDT, the world’s largest stablecoin, is now backed by much smaller cash reserves than before. XREX analyzes the risks.

Ethereum’s transition to proof-of-stake promises to dramatically lower energy consumption, curbing greenhouse gas emissions that would require an annual offset by a forest roughly the size of Belgium.

DLT projects are defined by their network effects, writes Donald Thibeau of HBAR Foundation. Here’s why open networks and community are critical for success.

Binance is racing to anchor its sprawling global operations as regulators in China, where it was founded in 2017, go after firms for lax know-your-customer practices.

The UAE is becoming the new crypto hub of the world. Meanwhile in India, high crypto taxes are scaring away young investors.

Flexibility allowed in new rule requiring crypto companies to comply with anti-money laundering guidelines leads to some confusion.

DAOs promise radically inclusive and rewarding workplaces, writes Parker McCurley of Decent Labs. Here’s how it would work.

BAYC is one of the hallmark NFT collections and a billion-dollar ecosystem. This Forkast explainer explores the cartoon primates and what makes them so special.

Major record labels have generated massive profits from previous structures of creative industries, but NFTs can transfer power to the artists.

Global Sales Volume NFT sales amounted to US$18.5 billion in 2021—a 570-fold increase from 2020 as the record bid for Beeple’s digital collage and the strong reception for NBA Top Shot attracted new collectors and boosted prices, data from NFT industry data aggregator CryptoSlam showed. Companies from Gucci and Ray-Ban to McDonald’s and Coca Cola […]

Top blockchain and crypto news: Bitcoin buzz in Malaysia. Yuga Labs teases Otherside. Blockchain verdict in China.

Opensea, an NFT marketplace on the Ethereum blockchain founded in 2017, currently dominates the NFT landscape with a market share of over 80% as of February 2022. OpenSea’s monthly trading volume on Ethereum soared to a new record high of US$5 billion in January 2022, surpassing its previous peak of US$3 billion reached in August […]

As NFT adoption grows, massive amounts of capital are pouring into the industry.  January 2022 saw the close of investment rounds in several high-profile companies, including NFT marketplace OpenSea, which raised US$300 million in Series C funding from investors led by Paradigm and Coatue. The new investment valued OpenSea at US$13.3 billion. Hong Kong-based Animoca Brands, […]

1. What are programmable NFTs?  Programmable NFTs are completely customizable digital objects that can be programmed to change their appearance and purpose over time, allowing for the creation of unique objects and collectibles that can change in response to future events.  Picture a massive multiplayer online role playing game like World Of Warcraft, where you […]

What major use cases or trends will we see in the NFT space in 2022? Trend 1: Mass adoption. Currently, we estimate there are around 1 million unique wallets globally that have been used to buy, sell or hold NFTs. We believe this number will rise sharply as more companies and developers create NFTs to […]

Asia looks set to become the next big market for NFTs, with some experts predicting the region may surpass the West as early as this year. Global Google search interest for the term “NFT” surged past “crypto” in January, with the search engine’s data showing growth originating in the East. Data from Taiwan, Japan and […]

Adding to its ambitious roster of sports sponsorships, Crypto.com will be the exclusive cryptocurrency trading platform backing the Qatar World Cup after bagging the deal for an undisclosed amount, the international soccer association announced on Wednesday, Asia time.  See related article: Crypto.com discloses details of US$34M hack Fast facts Singapore-based Crypto.com stands to gain massive […]